SoFi Technologies Rises As Q4 Results Surpass Estimates

(RTTNews) - Shares of online finance company SoFi Technologies, Inc. (SOFI) are rising more than 14% Monday morning after reporting better-than-expected fourth quarter results.

Net loss in the fourth quarter narrowed to $40.07 million or $0.05 per share from $111.01 million or $0.15 per share in the same quarter a year ago.

Revenue increased 60% year-on-year to $456.68 million.

Analysts polled by Thomson-Reuters expected the company to report loss of $0.09 per share on revenue of $426.28 million.

Looking forward to the first quarter, the company expects adjusted revenue to be in the range of $430 million to $440 million. The consensus estimate stands at $443.69 million.

For the full year, adjusted revenue is expected in the range of $1.925 billion to $2.0 billion. Analysts expect revenue of $1.99 billion for the year.

SOFI, currently at $6.82, has traded in the range of $4.24-$13.55 in the last 1 year.